Morning News Bulletin: Track latest stories

By: | Published: September 8, 2017 8:46 AM

A Special TADA court has awarded death sentence to Tahir Merchant and Firoz Abdul Rashid Khan in the 1993 Mumbai serial blasts case but gangster Abu Salem escaped the noose and was handed down life imprisonment due to a provision in the Extradition Act.

mumbai blasts verdict, abu salemA Special TADA court has awarded death sentence to Tahir Merchant and Firoz Abdul Rashid Khan in the 1993 Mumbai serial blasts case but gangster Abu Salem escaped the noose and was handed down life imprisonment due to a provision in the Extradition Act.

1993 Mumbai serial blasts: Death for 2, Salem gets life sentence

A Special TADA court has awarded death sentence to Tahir Merchant and Firoz Abdul Rashid Khan in the 1993 Mumbai serial blasts case but gangster Abu Salem escaped the noose and was handed down life imprisonment due to a provision in the Extradition Act. Besides Salem, the court sentenced Karimullah Khan to life imprisonment, while awarding 10 years in jail to the fifth convict, Riyaz Siddiqui. The court said it would be necessary to make a mention of the worldwide scenario and menace of terrorism. It was pertinent to note that a case related to terrorism could not be treated at par with other offences. “Offences and offenders of terrorism need to be dealt with sternly. Further generations need to be saved from the menace of terrorism,” judge G A Sanap observed.

Terror funding case: NIA raids 11 places in Jammu and Kashmir, NCR

The National Investigation Agency (NIA) has carried out searches at 11 places in Jammu and Kashmir and the national capital region in connection with its probe into the funding of terror activities and channelling of ill-gotten money through cross-LoC trade. NIA sleuths found three arms — a pistol, a double-barrel gun and a .315 rifle — in possession of Razzaq Choudhary, a close aide of separatist leader Shabir Shah, officials said. The arms were not seized as Choudhary produced licence for the weapons, they added. An NIA spokesman said nine places in Kashmir and one each in Jammu and Gurugram (Haryana) were searched in connection with the Jammu and Kashmir terror funding case and channelling of funds through trade across the Line of Control (LoC).

As McDonald’s vs Vikram Bakshi row plays out, rivals just loving the spectacle, laugh all the way to the bank

Even as the fight between Vikram Bakshi and McDonald’s plays out, leaving the fate of the outlets uncertain in the northern and eastern parts of the country, one thing is certain — the iconic fast food brand has lost significant revenues and market share in Delhi during July compared with the preceding month while other quick service restaurants (QSRs) gained at its cost during the period. Up to 43 of the 55 outlets run by Connaught Plaza Restaurant (CPRL) — the 50:50 JV between Bakshi and McDonald’s India — in Delhi downed shutters in June when, because of the impasse between the partners, the mandatory licences could not be renewed.

DDA Flats housing scheme: Big surprise, just 8,000 takers for 11,000 LIG category apartments

With just four days left for the deadline, the Delhi Development Authority (DDA) has managed to get only 22,000 applications for its 2017 housing scheme. Of these, only 8,000 are for lower-income group (LIG) houses, which comprise more than 11,000 of the 12,000 houses on offer, a senior official at the authority said. For its last housing scheme, which was launched in September 2014, DDA had offered 25,034 flats — EWS, LIG, MIG, HIG, Janta flats and one-room apartments, ranging in prices from Rs 7 lakh to Rs 1.2 crore. The scheme then had received over 10 lakh applications.

FPIs sell nearly $600 mn worth equities in Sept after shedding $2 bn in August; Sensex now 3 pct off peak

Foreign portfolio investors (FPIs) have sold Indian equities worth close to $600 million in the first five sessions of September, after offloading stocks worth nearly $2 billion in August. From its peak of 32,575.17 points on August 1, the benchmark Sensex has come off by nearly 3% to 31,662.74 as of Thursday. At these levels the Sensex trades at a price-earnings multiple of over 18.6 times one-year estimated forward earnings, a 20% premium to the long-term average multiple. Concerns over steep valuations and poor corporate earnings for the June quarter have seen investors take risk off the table. Earnings estimates for FY18 are being trimmed with almost every sector having seen a downgrade.

Homebuyers in Jaypee Infrastructure project suffer big setback; here is what IDBI Bank wants SC to do

IDBI Bank, the largest lender to the Jaypee group, on Thursday asked the Supreme Court to vacate its Monday’s stay order and allow the NCLT-appointed interim resolution professional (IRP) to turn around real estate developer Jaypee Infratech’s finances and help recover Rs 10,000-crore debt. While the bank had orally mentioned its plea before the apex court on Tuesday, it filed a detailed application on Thursday. It said the stay order had the “unintended effect of derailing the whole time-bound process envisaged under the Insolvency and Bankruptcy Code”. “The stay order inadvertently undoes all the developments that took place after NCLT’ August 9 order… IRP is in the process of verifying all the claims received from the creditor and soon the first meeting of the committee of creditors would have been held,” it added.

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